empty
 
 
20.02.2019 12:26 AM
Ethereum Elliott Wave analysis for 20/02/2019

Ethereum Elliott Wave analysis for 20/02/2019:

No need to come down yet?

Technical market overview:

The ETH/USD pair has made a new local high at the level of 149.75 and is currently hovering around this level in a narrow horizontal range. The momentum was very solid behind this move up, but it still looks like the wave (c) of the overall corrective cycle in the wave B, so the momentum is coming off the overbought levels. Moreover, this might be the top for wave B, so the wave C to the downside might be unfolding soon. Any violation of the orange trend line will support the view that the top for wave B is in place already.

The nearest technical support is seen at the level of 140, 83 and 140.00 and then at 135.47, but the market might still try to break through the local high at the level of 149.75 before the deeper correction or the downtrend resumption will take place.

Weekly Pivot Points:

WR3 - $158

WR2 - $149

WR1 - $138

Weekly Pivot - $126

WS1 - $118

WS2 - $106

WS3 - $99

Trading recommendations:

All of the buy orders that were bought yesterday should now be closed with profit, so well done everyone who traded the local pull-backs on the way to 149.75. The more aggressive traders might try to short the ETH as close as possible to the level of 149.75 with a tight protective stop loss and wait for the price to hit the level of 140.83, 140.00 or 135.47. Any violation of the last mentioned level will only accelerate the sell-off towards the level of 127.41.

This image is no longer relevant

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $9000 más!
    ¡En Mayo, sorteamos $9000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback